If you've been investing in websites for a while and seen some success with it, chances are you've invested the profit in even more websites. That's a really smart move.
The more websites you operate, and the more experience you get, the better you get at scaling websites. The proven track record gives you even more confidence to invest more, and, it can really turn into that snowball effect we're all looking for.
What is doomed to happen when you are in this situation is that you add more and more websites until it isn't sustainable anymore. This happened to me.
I was in this exact position 4 years ago. I had made a substantial amount of money (for my age) and started to invest that profit in more and more websites.
Once I reached my peak, I had a website portfolio with 100-ish websites.
It was unsustainable. I was alone in my company, went to high school, and had 1 VA to hand over some tasks to every now and then.
My struggle with the shiny object syndrome
I found myself chasing new niches all the time; buying domains, buying mass-produced utterly-shit content, and took pride in being able to start a website in under a day.
I was naïve.
Anyone can start a website in one day, that's not the hard part. The hard part, or rather, complex part, is doing keyword research, site structuring, and then scaling the website.
And the scaling part was really hard, especially when you had 100 websites that weren't properly set up and just mass-produced.
I was overwhelmed
I had too many things to get done, so I couldn't get any of them done. I was overwhelmed.
I figured out that my overflow of tasks to get done actually caused a lack of progression, and that as a company (that gets its money from building & scaling websites), the way of doing it wasn't sustainable.
It was one of the best lessons for me personally and for Hekkup as a company. I closed all of the websites down 3 years ago (except 3), and rebooted the company.
Since then I've added 3 wonderful teammates to the team and hired two new VAs, and started to automate tasks that can be automated. I feel much more satisfied with the hours I put in, and we're hitting ATHs very frequently now.
How to manage a big website portfolio
The moral of my story is that you cannot do everything on your own - and if you want to scale your website portfolio you must find ways to work with others and do it in a structured manner.
If you want to manage a big website portfolio you'll have to learn a few things, the first one being that you should outsource most of the tasks to others. Vet highly-skilled or driven people that want to get the work done, give them the tools and resources needed, and let them go to work.
Currently, the way we're working is that each teammate is responsible for 5 websites and their goal is to grow those websites until they feel they are ready to be sold to our hungry buyer pool. This helps us give proper time and love to each website.
I operate 10 websites; 9 affiliate websites and Hekkup.com. It's manageable while working full-time (and working on these websites before or after work), as long as I put myself in the position of strategy, and not as much the doer.
Why are website portfolios good?
So while I have talked about the negative part and what can happen if you build a too big portfolio of websites, I believe it is important that I bring up the positive side of a portfolio strategy.
A portfolio strategy helps you minimize the risk.
Here's an example from our portfolio of the idea:
We have two websites in the same niche, one of them absolutely boomed during the recent core update in December 2020 and the other one absolutely tanked. However, since we have two websites, we went from 11 700 monthly visitors to 23 500 visitors during the update, even though one of them absolutely tanked.
In this case, we're working hard to recover Site 1 and will continue to build on Site 2 at the same time. If we were to only sit with one site in this niche, we'd have a very different situation (probably a very demotivated situation.)
So there you have it, a story of our way of working with a portfolio mindset - that we are slightly fine-tuning it as our business matures. Hopefully, it helped you get some good ideas for your own business and your own portfolio.